Goldenlady consortium alleges foul play in Cyprus casino tender process

Thursday 10th of March 2016

A consortium interested in the Cyprus casino licence is reportedly calling for an investigation, alleging the tender process for the licence was biased, local media reports.

In a letter sent to Cyprus’ auditor-general Odysseas Michaelides, the Goldenlady consortium asked how its own bid was dismissed when it surpassed those of its competitors. Goldenlady said it proposed to invest €1.2 billion (US$1.3 billion), whereas the three unofficially shortlisted candidates were spending less than half of that amount. The consortium also said they were the only to submit a letter of commitment for €425 million as proof they had the funds for the project.

“The fact alone that the names of the preferred bidders have been leaked to the press before the recommendations of the evaluation committee are put to the Cabinet for approval, casts a shadow on the credibility of the process,” said the consortium in the letter.

The consortium is reportedly demanding a probe into the tender process, hinting that President Nicos Anastasiades may have sided with Hard Rock, which proposed its casino’s location to be Limassol, his native town.

Bricks & Mortar Investigation Cyprus Licence Tender process